Randy J. Hendricks - Dec 6, 2021 Form 4 Insider Report for Zovio Inc (ZVO)

Role: Chief Executive Officer, Director
Signature: /s/ Matt Mitchell, as Attorney-in-Fact
Stock symbol: ZVO
Transactions as of: Dec 6, 2021
Transactions value $: $0
Form type: 4
Date filed: 12/8/2021, 05:10 PM

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	ZVO	Restricted Stock Unit	Award	$0	+574K		$0.00	574K	Dec 6, 2021	Common Stock	574K		Direct	F1, F2

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Each restricted stock unit represents a contingent right to receive one share of the issuer's common stock.
F2	Subject to the reporting person's continuing service, the restricted stock units vest as follows: (i) 1/3rd of the restricted stock units vest on the first anniversary of the vesting commencement date, and (ii) an additional 1/3rd of the restricted stock units shall vest on each subsequent anniversary of the vesting commencement date. The vesting commencement date for the restricted stock units is December 6, 2021.

Content

Each restricted stock unit represents a contingent right to receive one share of the issuer's common stock.

Subject to the reporting person's continuing service, the restricted stock units vest as follows: (i) 1/3rd of the restricted stock units vest on the first anniversary of the vesting commencement date, and (ii) an additional 1/3rd of the restricted stock units shall vest on each subsequent anniversary of the vesting commencement date. The vesting commencement date for the restricted stock units is December 6, 2021.